“We are very pleased with the outcome of this growth journey together with the Palette Software team”, says Thomas Bill, co-founder of Monterro and Chairman of the Board at Palette Software.
“We are happy to see how successfully Palette’s CEO Mats Ferm and the management team have scaled the company’s product and business model, to become a leader in AP Automation. We look forward to follow their continued journey ahead”.
“Monterro has offered a tremendous support in scaling our company and preparing us for the next phase of our growth journey ”, says Mats Ferm, CEO of Palette Software.
“We’ve gone from offering an on-premise solution with an upfront pricing model to a subscription-based cloud offering. We’ve quadrupled the recurring revenue and established a strong footprint in the Nordics and successfully established ourselves on the European, Australian, and the North American markets. This would not have been possible without the support and experience provided by Monterro”, he continues.
“With Altor’s support we now look forward to continue to provide our large and loyal customer base with best in class AP Automation solutions and to increase our investments for accelerated international growth. We look forward to an exciting future for ourselves, our partners and our customers, together with our new owner”, says Mats Ferm.
Petter Samlin, Partner at Altor comments:
“We are excited to bring Palette Software into our portfolio of companies. We are truly impressed by what Palette and all employees have achieved over the past years and look forward to be part of building a global champion within AP Automation.”